Natixis Advisors LLC Sells 44,504 Shares of Atlassian Corporation PLC $TEAM

Natixis Advisors LLC reduced its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 59.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,561 shares of the technology company’s stock after selling 44,504 shares during the period. Natixis Advisors LLC’s holdings in Atlassian were worth $4,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Atlassian by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock worth $3,006,281,000 after buying an additional 61,706 shares during the period. Baillie Gifford & Co. boosted its stake in Atlassian by 3.9% in the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock valued at $1,367,132,000 after buying an additional 316,276 shares in the last quarter. DNB Asset Management AS boosted its stake in Atlassian by 42.2% in the 4th quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company’s stock valued at $646,974,000 after buying an additional 1,183,328 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Atlassian by 38.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,950,852 shares of the technology company’s stock valued at $640,628,000 after buying an additional 1,090,787 shares in the last quarter. Finally, State Street Corp boosted its stake in Atlassian by 1.9% in the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after buying an additional 73,014 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Price Performance

Atlassian stock opened at $97.89 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $24.84 billion, a P/E ratio of -117.94, a P/E/G ratio of 5.64 and a beta of 1.07. The business’s fifty day moving average is $79.55 and its two-hundred day moving average is $105.82. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities research analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,986 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $174,271.50. Following the transaction, the executive directly owned 236,841 shares in the company, valued at $20,782,797.75. This trade represents a 0.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 10,891 shares of company stock worth $955,683 in the last ninety days. 36.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEAM. Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Wolfe Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a research note on Thursday, March 12th. Truist Financial boosted their price target on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wall Street Zen lowered Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Robert W. Baird set a $120.00 price objective on Atlassian in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.